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going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do willingly, make dramatic changes in taxes and spending. if those changes happen automatically,
going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013....
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. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive. it is the math. >> magic math. >> magic beans and fairy dust. >> president obama did win the election. >> me thinks somebody made him king. >> no. i don't think that's right. >> he doesn't see where he stands in the universe. >> i would say we're nowhere. >> are we that far apart? >> both sides want a deal. >> a matter of math. >> try to stay away from hypotheticals. >> it won't pass. >> discussions about unicorns. >> unicorns. >> they're imaginary beasts. >> magic beans. >> magic math. >> an enchanted universe. >> outrageous. >> the whole thing is going wacky. >> i would say we're nowhere. >> i don't envy the position the speaker is in. >> we're nowhere. ?
. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive....
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and the issues that we are going to address with this sort of fiscal cliff, fiscal slope, hill, wharf you want to call it are going to be very, very important issues. i want to clear one things up. the republicans wants to talk about deductions all the time. one of the key distinctions between letting the taxes go up a little bit on the 2% versus trying to find this money through deductions, is the fact when we're talking about capping deductions, that's something that's going to impact middle class families and middle class earners the most. and so it really is -- i don't want to make this about class warfare. it's really about what is fiscally smart for the economy. most economists are telling us this tax increase will not have very much impact in terms of growth. if you talk about essentially raising taxes on 98% of americans either through some kind of crazy deduction plan or just letting the bush tax cuts go, that can have a very, very severe effect on the economy. >> as usual dr. peterson makes a superb point. president clinton used to say if you want to live like a republican,
and the issues that we are going to address with this sort of fiscal cliff, fiscal slope, hill, wharf you want to call it are going to be very, very important issues. i want to clear one things up. the republicans wants to talk about deductions all the time. one of the key distinctions between letting the taxes go up a little bit on the 2% versus trying to find this money through deductions, is the fact when we're talking about capping deductions, that's something that's going to impact middle...
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Dec 1, 2012
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this fiscal cliff though is not child's play. it's just 33 days away and today, president obama's visit to a toy factory in pennsylvania had everyone acting a bit childish. >> i've been keeping my own naughty and nice lists. >> we're not interesting in playing. >> i wasn't going to have him building roller coasters all day long. >> sure, who doesn't want to be a kid again, but washington, you have real work to do. a looming fiscal cliff and what are we hearing? as jeff sessions says -- >> a lot of flimflam. >> flimflam. we told you last night that tim geithner hopscotched his way down pennsylvania avenue to bring the president's proposal from the white house to capitol hill and instead of offering compromise, he leapt to the extreme. his plan taxes $1.6 trillion of taxes. higher tax rates on people, families making more than $250,000 as well as closing loopholes, limiting deductions, raising the estate tax rate and increasing the taxes on capital gains and dividends and the plan spends nearly $200 billion. another stimulus packag
this fiscal cliff though is not child's play. it's just 33 days away and today, president obama's visit to a toy factory in pennsylvania had everyone acting a bit childish. >> i've been keeping my own naughty and nice lists. >> we're not interesting in playing. >> i wasn't going to have him building roller coasters all day long. >> sure, who doesn't want to be a kid again, but washington, you have real work to do. a looming fiscal cliff and what are we hearing? as jeff...
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Nov 30, 2012
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he is pushing his plan to avoid the fiscal cliff. is he standing firm on raising taxes for the wealthiest americans. want to bring in our chief white house correspondent jessica yell toin give us a breakdown of exactly what he has put on the table here because we know that both sides, they start off strong. they start off with the best offer they got, the strongest offer they got, and clearly, the republicans not quite happy about it. what is he offering? >> it's sort of a starting position from the white house. what secretary geithner laid out when he was visiting capitol hill yesterday was the headline $1.6 trillion in new taxes as part of their overall vision to increase those taxes for people making $250,000 more, but that also includes some changes to how much people can deduct, closing loopholes. increasing taxes for dividends and capital gains and some other things. then some other aspects of the wish list from the president. $50 billion in new stimulus spending next year, and then in return they would find $400 billion in cut
he is pushing his plan to avoid the fiscal cliff. is he standing firm on raising taxes for the wealthiest americans. want to bring in our chief white house correspondent jessica yell toin give us a breakdown of exactly what he has put on the table here because we know that both sides, they start off strong. they start off with the best offer they got, the strongest offer they got, and clearly, the republicans not quite happy about it. what is he offering? >> it's sort of a starting...
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cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree on? >> the superfailed committee. this is a giant hatchet as opposed to a scalpel. >> it was designed to fail. >> i agree, but the real solution and real irony is going to be the ultimate deal's going to look like the obama boehner grand bargain that was negotiated and almost done in the summer of 2011. the fact that we couldn't make that deal then i think's a tragedy for the country. one of the thing's it did was lead to that aaa downgrading. that was unnecessary. >> let me just follow up on this point of what republicans should accept. you said you'd go back to the clinton era tax rates if you could
cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree...
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let's start with the fiscal cliff. secretary reich if we hit the fiscal cliff would it be devastating and hence we must do cuts in social security and medicare? >> first of all the fiscal cliff is a misnomer. it really is not a cliff. we can go over it and a lot of people won't feel much, particularly if democrats do what they say they're going to do, and that is pass a bill that makes the tax cuts retroactive to january 1 for the middle class. that's what democrats would do, giving them maximum bargaining with the republicans. we don't have a debt crisis. that's another might geology that a lot of people, republicans and media are talking about. there is no the a budget deficit crisis right now. in the years beginning 10 years from now, we will have very large budget deficits, but those are because of health care costs rising projected to rise very, very high and that's going to hurt medicare and medicaid, not because medicare and medicaid are the problems, but because underlying those medicare and medicaid problems p
let's start with the fiscal cliff. secretary reich if we hit the fiscal cliff would it be devastating and hence we must do cuts in social security and medicare? >> first of all the fiscal cliff is a misnomer. it really is not a cliff. we can go over it and a lot of people won't feel much, particularly if democrats do what they say they're going to do, and that is pass a bill that makes the tax cuts retroactive to january 1 for the middle class. that's what democrats would do, giving them...
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and the fiscal cliff. james cheeks says he is counting on congress to prevent his taxes from going up. >> scary. you know, it's scary. where is that money going to come from, you know, how am i going to pay that extra tax hike. >> reporter: one booth over, ted and gus say they don't think congress can avoid the cliff. >> i hope so, but i don't see it yet. >> if we're going to have standoffs, have that do nothing congress, it is going to be awfully toug to get anything done. >> reporter: potential effects of the fiscal cliff in rock island, illinois aren't necessarily any better or worse than in other cities around the country. the bottom line is if congress fails to act, repercussions will be felt across the country. wolf? >> ted rowlands in rock island, illinois. >>> imagine being able to use your ipad, cell phone in the air whenever you want. up next, we have details on a new government effort under way now to keep you plugged in all the time, including on takeoff and landing, while flying. stand by. ♪
and the fiscal cliff. james cheeks says he is counting on congress to prevent his taxes from going up. >> scary. you know, it's scary. where is that money going to come from, you know, how am i going to pay that extra tax hike. >> reporter: one booth over, ted and gus say they don't think congress can avoid the cliff. >> i hope so, but i don't see it yet. >> if we're going to have standoffs, have that do nothing congress, it is going to be awfully toug to get anything...
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a lot to get into this morning as we talk about the fiscal cliff. erskine bowles says he thinks democrats and republicans are serious about getting a deal done, but when you hear congressman cole walking back statements, do you think that's true? >> cole doesn't want to be a political target of the right. so he can easily say i really didn't mean that prks and to ge of the news. and probably trying to set the table for other guys. which is a signal that the right wing is still very stuck in con kreetd as you said earlier. they don't want to move. they are denying election results. but there is real ominous things i think that are starting to surface here. any talk of a mortgage deduction change would be horrendous in my opinion and it would fly in the face of everything barack obama and joe biden ran on in protecting middle class. they have to be crystal clear that that is off the table. the housing crisis started the last recession. if they go after mortgage deductions, if they put that on the table even for high end homes, that will change sales,
a lot to get into this morning as we talk about the fiscal cliff. erskine bowles says he thinks democrats and republicans are serious about getting a deal done, but when you hear congressman cole walking back statements, do you think that's true? >> cole doesn't want to be a political target of the right. so he can easily say i really didn't mean that prks and to ge of the news. and probably trying to set the table for other guys. which is a signal that the right wing is still very stuck...
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and that needs to be remembered when we're talking about the fiscal cliff. now, women really are, in fact, bearing the primary burden of all of these cuts. and so what we're saying is, let's don't engage in these cuts. let's have an aggressive jobs policy, put people to work, bring more money into the federal treasury, and lower the deficit that way. and, obviously, tax the millionaires and billionaires fairly for the first time in 30 years. >> right. >> so, terry, aggressive jobs program. great. that's the third way. president obama submitted to congress the american jobs act last september. so are you suggesting -- are you suggesting that that bill be passed? are you suggesting that it be reworked, junked and recreated? the second part of that question is, what are you going to do? what is now going to do to ensure that it gets passed? >> i would really much rather representative john connier's jobs bill be passed. it's much more aggressive. january ja cow ski also has a wonderful jobs bill. president obama's is much more modst. but it does lead us beginni
and that needs to be remembered when we're talking about the fiscal cliff. now, women really are, in fact, bearing the primary burden of all of these cuts. and so what we're saying is, let's don't engage in these cuts. let's have an aggressive jobs policy, put people to work, bring more money into the federal treasury, and lower the deficit that way. and, obviously, tax the millionaires and billionaires fairly for the first time in 30 years. >> right. >> so, terry, aggressive jobs...
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he says it's not a fiscal cliff, it's more like a fiscal slope. there are some people that occupy the left side of the american political spectrum that would agree with howard dean saying listen, it's really not that big of a deal as deficit hawks are making it out to be. you would disagree, i would guess. >> well, i think howard is disagreeing a little bit, too. i think howard is saying it's time for meaningful deficit reduction. howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where there's really no plan. everything's broken down. nobody knows where anybody is. i think that could be pretty ugly in the markets. having said tha
he says it's not a fiscal cliff, it's more like a fiscal slope. there are some people that occupy the left side of the american political spectrum that would agree with howard dean saying listen, it's really not that big of a deal as deficit hawks are making it out to be. you would disagree, i would guess. >> well, i think howard is disagreeing a little bit, too. i think howard is saying it's time for meaningful deficit reduction. howard's become a deficit hawk. i think howard and i would...
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in the midst, and we'll talk about the fiscal cliff in a minute, about the midst of the fiscal cliff and who's doing what, this is a huge news story, dropped on capitol hill that seemed to take everybody by surprise. what's the reaction up there. >> reporter: the pieces that are less sprying look at the fact that republicans failed to reclaim majority, that always has an influence on how much power senators think they have if they're among the minority. jim demint said he would not seek another term. at some point there was a plan for him to forecast his future. the timing of doing it right now certainly caught people by surprise. but it also is a point where it tells you that he feels comfortable that the voice of objection on some things has been the seed has been filled here. he's got a mike lee of utah, rand paul of kentucky, who can fill some of the void that he would be leaving. it really is also, perhaps, good news for someone like mitch mcconnell, he can with his own reelections coming up not have the counterweight of jim demint's considerable presence within the chamber. so
in the midst, and we'll talk about the fiscal cliff in a minute, about the midst of the fiscal cliff and who's doing what, this is a huge news story, dropped on capitol hill that seemed to take everybody by surprise. what's the reaction up there. >> reporter: the pieces that are less sprying look at the fact that republicans failed to reclaim majority, that always has an influence on how much power senators think they have if they're among the minority. jim demint said he would not seek...
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do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not air box, it's a beltway here. and we are in this debt mania. there is a long term crisis on debt. i think david would agree with that. if you actually go back and read what my old boss and his partner wrote almost two years ago now, they said these things, these cuts in tax increases should be back loaded so we don't damage the economy. in the president's proposal, he does have a small infrastructure bank program to try to jump-start some growth, so i think it's a good idea. raising tax rates on the rich. i saw your interview with senator coburn. he is
do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not...
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it's 10:00 on the east coast and we begin with brooking news on the looming fiscal cliff. and signs of a potential fall. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise. but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials would behave like spoiled children in the fiscal cliff discussions. only 28% said they would behave like responsible adults. tonight, signs that maybe some adult behavior might be prevail. and a compromise might be reached. joining me now, dana bash, jessica yellin, and david gergen. what's the latest? >> reporter: they are a long way from a deal. but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no
it's 10:00 on the east coast and we begin with brooking news on the looming fiscal cliff. and signs of a potential fall. for the past few nights we've been telling you about the frustrating lack of progress to avert a deal on automatic tax hikes and spending cuts that kick in less than four weeks from now. poll after poll shows the american people want compromise. but there weren't many signs that was going to happen, nothing was getting done. in a cnn/crc poll, 67% said washington officials...
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the jersey shore about to meet the fiscal cliff. grim news for governor christie as he visits washington. >>> plus the controversial place to store your text messages. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. without freshly-made pasta. you could also cut corners by making it without 100% real cheddar cheese. but then...it wouldn't be stouffer's mac & cheese. just one of over 70 satisfying recipes for one from stouff
the jersey shore about to meet the fiscal cliff. grim news for governor christie as he visits washington. >>> plus the controversial place to store your text messages. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. sharable data across 10 devices with unlimited talk and text. get a droid razr m by motorola for $49.99. bp has paid overthe people of bp twenty-threeitment to the...
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let love shine. >>> act three of the fiscal cliff theater piece begins today. it is wednesday, december 5th, and this is "now." >>> joining me today benjamin wallace wells of "new york" magazine, the "washington post's" melinda headenberger, msnbc political analyst and former dnc communications director karen finney and senior national correspondent for bloomberg business week josh green. round three has begun. two days after the republican fiscal cliff counter offer, both sides are coming out swings. speaker john boehner defended his proposal this morning, adopting a page from the dem's fairness playbook. >> the revenues we're putting on the table are going to come from, guess who? the rich. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising
let love shine. >>> act three of the fiscal cliff theater piece begins today. it is wednesday, december 5th, and this is "now." >>> joining me today benjamin wallace wells of "new york" magazine, the "washington post's" melinda headenberger, msnbc political analyst and former dnc communications director karen finney and senior national correspondent for bloomberg business week josh green. round three has begun. two days after the republican fiscal...
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i think this brinksmanship about the budget and the fiscal cliff is all just fine. i don't want to go over the cliff. i think it would be irresponsible. >> does the president want to go over? we got to listen to all the republicans and the conservative media today are saying president obama wants to go over the fiscal cliff, because then taxes go up across the board. and then it's got to be done retroactively. >> which is not what the president wants but there's a big difference between this fiscal cliff and the full faith and credit of the united states. the american government has never defaulted on its debt. and now there are some, not the majority of republicans but some on the extreme of the republican party and they seem to be in control, who seem to want to default on our debt. that's crazy. if they cannot be entrusted with the full faith and credit of the united states, they should not have that leverage. >> paul, where were the overtures though? where were the overtures with this deal that was presented? i mean, listen, you don't have to be mensa to know de
i think this brinksmanship about the budget and the fiscal cliff is all just fine. i don't want to go over the cliff. i think it would be irresponsible. >> does the president want to go over? we got to listen to all the republicans and the conservative media today are saying president obama wants to go over the fiscal cliff, because then taxes go up across the board. and then it's got to be done retroactively. >> which is not what the president wants but there's a big difference...
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forget about the fiscal cliff back and forth. heard from boehner and geithner that you talked about but, listen, some things looking better in europe this morning actually. i know it's boring but the greek deal looks a little more likely. germany making positive comments so stock futures are up. big story in "the wall street journal" about how the rest of the world is slow to get on the natural gas bandwagon which could be good for the united states and canada because they need gas around the world which means we may be the more likely go-to source and delta airlines reportedly in the hunt for half a stake in virgin atlantic. they covet some new landing spots at heathrow airport. barnicle can fly back and forth on london to get a new castle or a guinness or whatever his choice is. and i'm going to leave you with this. it is the 20th birthday of the text message. on this date 20 years ago, it was created. and now university students send an average of 3,200 text messages per month rof, lol, omg. >> brian, quickly, back to the virg
forget about the fiscal cliff back and forth. heard from boehner and geithner that you talked about but, listen, some things looking better in europe this morning actually. i know it's boring but the greek deal looks a little more likely. germany making positive comments so stock futures are up. big story in "the wall street journal" about how the rest of the world is slow to get on the natural gas bandwagon which could be good for the united states and canada because they need gas...
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fiscal cliff hardball. should the president be on the road or back in washington hammering out a fiscal cliff compromise? tweet me @thomasaroberts or on facebook. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, every time. 2% on groceries. 3% on gas. automatically. no hoops to jump through. that's 1% back on... [ toy robot sounds ] 2% on pumpkin pie. and apple. 3% back on 4 trips to the airport. it's as easy as... -[ man ] 1... -[ woman ] 2... [ woman ] 3. [ male announcer ] the bankamericard cash rewards card. apply online or at a bank of america near you. constipated? yeah. mm. some laxatives like dulcolax can cause cramps. but phillips' caplets don't. they have magnesium. for effective relief of occasional constipation. thanks. [ phillips' lady ] live the regular life. phillips'. [ phillips' lady ] live the regular life. an intense burning sensation i woke up with this horrible rash on my right side. like somebody had set it o
fiscal cliff hardball. should the president be on the road or back in washington hammering out a fiscal cliff compromise? tweet me @thomasaroberts or on facebook. i love the holidays. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, every time. 2% on groceries. 3% on gas. automatically. no hoops to jump through. that's 1% back on... [ toy robot sounds ] 2% on pumpkin pie. and apple. 3% back on 4 trips to the airport. it's as easy as... -[...
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treaty about disability or what they're saying by the fiscal cliff. we're seeing an important shift in their strategy. i think at the end of the day john boehner is going to decide it makes more sense to pass the senate bill, extending the tax cut to 98% saying to the public at large we're not going to deny you that but we're not going to pass the debt ceiling increase. on that they'll hang tougher seeking to extract something from the white house. >> i agree with half of that. i think they're going to wait for the debt ceiling crisis that they're going to create with their leverage. but it seems to me that they have more incentive to blame the democrats for rising taxes on everybody, and then come back and pass that middle class tax cut. i think we're going to see the sun setting of the bush tax cuts. i just don't see how the tea partyers essentially can do a preemptive basically pre- preemptive before the taxes go back up. >> eliot: charles, do you agree with sam? once the tax cuts have expired maybe they pass the tax cut for 98% but then use their
treaty about disability or what they're saying by the fiscal cliff. we're seeing an important shift in their strategy. i think at the end of the day john boehner is going to decide it makes more sense to pass the senate bill, extending the tax cut to 98% saying to the public at large we're not going to deny you that but we're not going to pass the debt ceiling increase. on that they'll hang tougher seeking to extract something from the white house. >> i agree with half of that. i think...
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this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as disappointed as the speaker is right now. i understand some of his problem with this. but the fact of the matter is the american people ended elections on november 6th, voiced their approval of president obama's approach to this. over 3 million more people voted for him than voted for mr. romney. and then if you look at house democr democrats. only 201 of us got eelected. that means the rest were republicans. >> i understand that. >> but over 500,000 more votes than they got -- >> with all due respect, representative, we understand that the president won and you fe
this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as...
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who is afraid of the big bad so-called fiscal cliff? maybe it should be termed the nice gradual fiscal slope. we've certainly heard a lot of ceos and other financial cassandras in recent weeks prove size doom if it a deal isn't cut by year's owned. but washington, both side have dug in their heels, and the answer may be that suddenly the sliding down the fiscal slope does not seem that bad. maybe that's why the republicans leaders like speaker of the house john boehner were able to put off making a counter proposal to the president's offer until today. crossing the red line on the talks by rejecting the demind that the republicans accept a hike in the marginal tax rate for those with income over a quarter million dollars a year. my view? obviously i agree with the white house on the substance and as i have said before, their hand gets stronger over time. but sometimes a new idea can change the dynamic. here is an idea that has been around for a long time, supported by james tobin way back and pushed by ralph nadar in a "washington post"
who is afraid of the big bad so-called fiscal cliff? maybe it should be termed the nice gradual fiscal slope. we've certainly heard a lot of ceos and other financial cassandras in recent weeks prove size doom if it a deal isn't cut by year's owned. but washington, both side have dug in their heels, and the answer may be that suddenly the sliding down the fiscal slope does not seem that bad. maybe that's why the republicans leaders like speaker of the house john boehner were able to put off...
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we need to avoid the fiscal cliff. >> one thing you want javier to agree to, to avoid the fiscal cliff. >> we need to have the spending cuts. >> give me an example? >> well, it is looking at the spending, entitlement reform, and growth in government. the president is moving in the wrong direction. he proposed higher taxes than he ever said during the campaign, more stimulus, more spending, that's moving us in the wrong direction. >> go ahead and respond. >> how much spending cuts do we want to see? i could tally up for you right now, $3 trillion with the spending cuts that we already enacted in law in the last year and a half. $1 trillion that came from the budget control act that was passed a year ago, that said a trillion dollars has to start coming up now, and that has begun. another trillion dollars which is going to be enacted through the sequester. we still have them. and we can move forward. that's another trillion, 1.2 trillion. let me give you the other 800 billion. we cut -- democrats without a republican vote, $716 billion in -- and we found $716 billion in savings through m
we need to avoid the fiscal cliff. >> one thing you want javier to agree to, to avoid the fiscal cliff. >> we need to have the spending cuts. >> give me an example? >> well, it is looking at the spending, entitlement reform, and growth in government. the president is moving in the wrong direction. he proposed higher taxes than he ever said during the campaign, more stimulus, more spending, that's moving us in the wrong direction. >> go ahead and respond. >>...
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. >>> but first, the president has a plan to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica, the president spoke out, sat down in an interview with bloomberg tv, and in listening to the interview, did you hear any clues toward a possible compromise here? >> reporter: not new clues, brooke. the president laid down the marker that we heard from the white house consistently, which is they aren't moving until they hear the republicans agree to raise tax rates on the wealthiest. listen to what the president had to say. >> i think that, you know, we have the potential of getting a deal done, but it is going to require what i talked about during the campaign, which is a b
. >>> but first, the president has a plan to avoid the fiscal cliff. but republican house speaker john boehner dismisses it as, and i'm quoting, la la land. the republicans offered their proposal, that happened about 24 hours ago. the white house quickly labels it as nothing new. business as usual, right? so how do we move beyond this stalemate in washington? we heard from the president, just a short time ago. our chief white house correspondent jessica yellin joins me now, jessica,...
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will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. time to deploy the boring-popcorn decoy bucket. then no one will want to steal the deliciousness. with a variety of tastes and textures only chex mix is a bag of interesting. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. it's hard to see opportunity in today's challenging environment. unless you have the right perspective. bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management alriwoah! did you get that? and...flip! yep, look at this. it takes like 20 pictures at a time. i never miss anything. is
will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. time to deploy the boring-popcorn decoy bucket. then no one will want to steal the deliciousness. with a variety of tastes and textures only chex mix is a bag of interesting. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on,...
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as the clock ticks down to the fiscal cliff, might lieutenant biden help avert disaster? sam, you talked to republican on the hill and there's a lot of back and forth about how good of a negotiator the president and his emissaries are. i've been wondering where joe biden is on this, given his experience on the hill and whether he might be a more effective ambassador in this back and forth that we are having. >> yeah. i think so. keep in mind, he and eric cantor had lengthy conversations when we were doing this in a different incarnation many months ago and so, you know, the framework was there between these two guys, not just that, between the respective staffs. the problem, if there was one with respect to biden, at least as i think, is that the -- if you do need an emissary on the hill for democrats, it's probably going to be with the house democratic caucus. by that i mean john boehner will at some point have to decide if he can get something done with all of his caucus or part of his caucus or house democrats. at that point you need nancy pelosi to get some of those l
as the clock ticks down to the fiscal cliff, might lieutenant biden help avert disaster? sam, you talked to republican on the hill and there's a lot of back and forth about how good of a negotiator the president and his emissaries are. i've been wondering where joe biden is on this, given his experience on the hill and whether he might be a more effective ambassador in this back and forth that we are having. >> yeah. i think so. keep in mind, he and eric cantor had lengthy conversations...
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will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ is engineered to amaze. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. al
will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ is engineered to amaze. when you take a...
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because joe biden is still our vice president and no fiscal cliff fights are going to stop him from a shopping blitz at washington's new costco super store. the veep came looking for pies and left with a television, books, fire logs, and a huge smile trailed by a horde of surprised shoppers. >> just walking through this store. get some guidance. >> you know, i have a feeling that the president may have missed his usual lunch partner at the midday meal today. joining us from washington is msnbc own historian the great chris matthews, the host of "hardball" and the author of quk jack kent, elusive hero," available now. highways t that's the advertising over. we learned the menu including white turkey chili and no humble pie after all. >> no dessert at all. i wondered about that double helping of poultry. what a strange meal. the turkey and then the chicken part. it's a strange meal. must have been dietary rules. i don't think that's a natural decision by the chef. strange meal. >> how do you think the meeting went though in truth? >> i think it's been screwed up because mr. romney, the
because joe biden is still our vice president and no fiscal cliff fights are going to stop him from a shopping blitz at washington's new costco super store. the veep came looking for pies and left with a television, books, fire logs, and a huge smile trailed by a horde of surprised shoppers. >> just walking through this store. get some guidance. >> you know, i have a feeling that the president may have missed his usual lunch partner at the midday meal today. joining us from...
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before this sort of fiscal cliff scenario plays out. >> yeah, absolutely. and clearly neither side willing to give up any leverage before -- probably before they reach the eleventh hour. but president hour heading to pennsylvania today, he's taking his plan directly to voters. you know, earlier this week the white house encouraged americans to tweet about tax cuts. any sign the strategy's paying off? >> reporter: we haven't seen anything yet, but they do believe that that is a smart strategy. we saw that happen with payroll tax cuts before where they brought americans here to the white house who would be impacted by, you know, $40 less in their paycheck. they did it again this time, bringing middle-class americans here to the white house this week who say that they will be impacted to the tune of $2,200 more a year in taxes. so, they believe that going to the american people, using social media is an effective tool. so far we don't know how that's paid off for them. >> and clearly, a lot of americans wanting to see some sort of a deal so we can move ahead.
before this sort of fiscal cliff scenario plays out. >> yeah, absolutely. and clearly neither side willing to give up any leverage before -- probably before they reach the eleventh hour. but president hour heading to pennsylvania today, he's taking his plan directly to voters. you know, earlier this week the white house encouraged americans to tweet about tax cuts. any sign the strategy's paying off? >> reporter: we haven't seen anything yet, but they do believe that that is a smart...
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he is in pennsylvania at the toy factory talking fiscal cliff. you're watching "the daily rundown" only on msnbc. [ emily jo ] derrell comes into starbucks with his wife, danielle, almost every weekend. derrell hasn't been able to visit his mom back east in a long time. [ shirley ] things are sometimes a little tight around the house. i wasn't able to go to the wedding. [ emily jo ] since derrell couldn't get home, we decided to bring home to him and then just gave him a little bit of help finding his way. ♪ [ laughs ] [ applause ] i love you. i love you, too. side by side so you get the same coverage, often for less. that's one smart board. what else does it do, reverse gravity? [ laughs ] [ laughs ] [ whooshing ] tell me about it. why am i not going anywhere? you don't believe hard enough. a smarter way to shop around. now that's progressive. call or click today. [ grunting ] >>> mitt romney made it to the oval office yesterday, but not quite in the way he'd envision ed it. the two former rivals talked for over an hour over white turkey chili
he is in pennsylvania at the toy factory talking fiscal cliff. you're watching "the daily rundown" only on msnbc. [ emily jo ] derrell comes into starbucks with his wife, danielle, almost every weekend. derrell hasn't been able to visit his mom back east in a long time. [ shirley ] things are sometimes a little tight around the house. i wasn't able to go to the wedding. [ emily jo ] since derrell couldn't get home, we decided to bring home to him and then just gave him a little bit of...
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we're having all these discussions about the fiscal cliff. we need to start thinking about what are our priorities because that's what the budget decisions mean we have to make tough decisions about where to invest and we know from research, david brooks writes about this all the time, money spent early on has a much greater return on investment than trying to fix the problem down the road. >> you're a message guy and one decision has to be made, you can't just sell we have to help the children. >> yeah. >> it has to be one of those issues. they're all important. it doesn't get you anywhere. >> no, i agree. we're trying to get the people to get their attention. >> is it health care? is it poverty? >> well, part of the health care and portable care act. the real return on investment is early investment in pre-k, early education, nurturing, bonding with mothers, all that kind of early pre-k investment is where the real payoff comes. so that's where i think -- it's across the board and attention across the spectrum about kids, their health, educ
we're having all these discussions about the fiscal cliff. we need to start thinking about what are our priorities because that's what the budget decisions mean we have to make tough decisions about where to invest and we know from research, david brooks writes about this all the time, money spent early on has a much greater return on investment than trying to fix the problem down the road. >> you're a message guy and one decision has to be made, you can't just sell we have to help the...
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brzezinski, about the fiscal cliff. i'd love your take on it, what signal it sends to the rest of the world that we don't seem to be able to put our economic house in order. >> well, the way you put it, you give the answer. your answer is right. we look a little bit disorderly. indecisive, leaderless. that's a real problem. and that's a problem that concerns me particularly on foreign affairs. the presidency, not just president obama, but the presidency in recent years has lost some of the terrain that they used to dominate in the making of foreign policy. i think president obama has to make a serious effort to regain it because he lost some of it himself. >> lost terrain to congress or to whom? >> to congress and to the world. that is to say his capacity to take decisive actions has been limited by congressional intervention, by the influence of lobbies, by the sense that he gives good speeches, very good speeches, and he really understands the world, but the follow-through in terms of policy is somewhat not there. so
brzezinski, about the fiscal cliff. i'd love your take on it, what signal it sends to the rest of the world that we don't seem to be able to put our economic house in order. >> well, the way you put it, you give the answer. your answer is right. we look a little bit disorderly. indecisive, leaderless. that's a real problem. and that's a problem that concerns me particularly on foreign affairs. the presidency, not just president obama, but the presidency in recent years has lost some of...
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always there. >>> we're only 33 days away from the so-called fiscal cliff. a drastic combination of mandatory spending cuts, tax hikes that could plunge the u.s. back into a recession. >> and there's only one way to avoid it. house republicans and president obama and his fellow democrats need to strike a deal before the end of the year on reducing the national debt to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in revenue presented by secretary treasury secretary timothy geithner and stimulus and $400 billion in medicare and other entitlement savings. a permanent increase in the debt limit. >> so, let's get more on the standoff right now. joining us senator bernie sanders of vermont. he caucuses with the democrats. senator, first of all, congratulations on your re-election. thanks for coming in. republicans say, you know what, they'll be flexible, but the democrats have to be flexible, too, especially when it comes to entitlement spending. medicare, medicaid and even reform. are you open to any
always there. >>> we're only 33 days away from the so-called fiscal cliff. a drastic combination of mandatory spending cuts, tax hikes that could plunge the u.s. back into a recession. >> and there's only one way to avoid it. house republicans and president obama and his fellow democrats need to strike a deal before the end of the year on reducing the national debt to avoid that fiscal cliff. republican aid describe the tentative white house proposal this way. $1.6 trillion in...
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could plunge off the fiscal cliff. this morning at least one republican is saying it's looking more like that's going to happen. after the plan laid out by the white house. >>> and she helped care for more than 140 children whose parents are behind bars in nepal. now she's got a new title. cnn hero of the year. cnn hero of the year. "newsroom" starting now. -- captions by vitac -- www.vitac.com >>> good morning. thank you so much for joining me. i'm carol costello. concern this morning that a young woman's death will be overshadowed by fame. by now, even if you're not a football fan, you know the name jovan belcher. you know he killed the mother of his child and then committed suicide. but what do we know about his girlfriend? his partner? the mother of his child, kasandra perkins? according to the kansas city star perkins and belcher were madly in love but argued of late. the star added many people knew that belcher owned guns and enjoyed shooting but they'd never known him to be violent. not even close. nbc's bob cos
could plunge off the fiscal cliff. this morning at least one republican is saying it's looking more like that's going to happen. after the plan laid out by the white house. >>> and she helped care for more than 140 children whose parents are behind bars in nepal. now she's got a new title. cnn hero of the year. cnn hero of the year. "newsroom" starting now. -- captions by vitac -- www.vitac.com >>> good morning. thank you so much for joining me. i'm carol costello....